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The Spiderchain multisig system introduced by Botanix enables fast and permissionless withdrawals back to Bitcoin, directly addressing long-standing criticisms of wrapped Bitcoin models on Ethereum.
The Botanix network is fully compatible with the Ethereum Virtual Machine (EVM), allowing Ethereum-based smart contracts and applications to run on Bitcoin without requiring modification.
The Botanix protocol combines Bitcoin anchoring with proof-of-stake-style incentives to create a hybrid security and governance model that blends Bitcoin’s decentralization with Ethereum’s flexibility.
Botanix Labs launched its mainnet with decentralized governance operated by a 16-node federation, including Galaxy Digital and Fireblocks, following a prior announcement to relinquish control over the blockchain.
The Botanix federation of node operators is expected to expand from its initial 16 participants to more than 100 by the year 2026.
The Botanix network secures its Layer 2 protocol using a system called Spiderchain, which employs BTC-staked Orchestrator nodes selected from Bitcoin block hashes to manage peg-ins and peg-outs via rotating multisig wallets.

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